ARC Resources privately places $150 million of 3.72% notes with Prudential Capital Group

By Lisa Kerner

Charlotte, N.C., Sept. 25 – ARC Resources Ltd. closed a private placement $150 million of senior notes under its master shelf agreement with Prudential Capital Group.

The notes have a 12-year amortization term with a 10-year average life and a fixed-rate coupon of 3.72%, according to a company news release.

Proceeds will be used to pay down debt under ARC’s credit facility.

Additionally, ARC upsized the master shelf agreement to $350 million from $225 million and extended the term for an additional three years beginning Sept. 25.

The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Arc, a subsidiary of Calgary, Alta.-based Arc Energy Trust, is an oil and gas company

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